Last evening, the government announced another round of cooling measures for the property market, effective 14 January 2011: 1) Holding period of homes liable for Seller's Stamp Duty (SSD) increased from 3 to 4 years; 2) SSD rates raised to 16%, 12%, 8% and 4% for homes sold in 1st, 2nd, 3rd and 4th year respectively; 3) Loan-To-Value (LTV) limit lowered to 50% on housing … [Read more...]
Property market to drop 50% in 1 to 2 years?
The title of a newspaper article caught my attention this morning, “Property expert says prices may collapse by up to 50 per cent in the next year or two” The reporter is quoting the comment from a 'property expert' at a real estate forum. The reasons given are “rally is not supported and has been too fast, paving for a harder fall”, “it doesn’t make sense to buy in terms of … [Read more...]
Impact of government measures to cool property market
The Singapore Government just announced today 'measures to maintain a stable and sustainable property market', with effect on the same day: 1. Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current one year to three years. 2. For property buyers who already have one or more outstanding housing loans at the time of the new housing … [Read more...]